1403 W Defender Ct

Jacksonville, FL 32233

$205,000D-

2 bd · 2.0 ba · 1,035 sqft · Built 1989 · Townhouse · Active · 80 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,747/mo
• Mortgage (P&I): −$1,075
• Tax + insurance: −$408
• HOA: −$525
• Vac / Maint / Mgmt: −$367
• Net cashflow: $-628/mo
• Annual: $-7,537/yr
• Cap rate: 3.01%
• Cash-on-cash: -11.74%
• DSCR: 0.48
• 1% rule: 0.85%
• Cash to close: $57,400

Investor read

• This is a 2-bed/2.0-bath townhouse listed at $205k. Condition is rated good.
• At list price, monthly cash flow is $-628 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (44.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (14.8% below list).
• It's been on market 80 days — a 6% lower offer ($193k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $114k (44.3% below list) — sets the bar for cash-flow.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Location reads 83/100 on livability (#50 in FL, #911 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+.
• Duval (urban): math 46% / reading 45% proficiency, ranked #48 of 73 in FL (top 66%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Anchor Academy (math 62% / reading 67%, grade B, #525 of 2,144 statewide, top 26%, 340 students, 16% FRL); Mayport Middle School (math 52% / reading 53%, grade C+, #213 of 571 statewide, top 38%, 833 students, 36% FRL); Duncan U. Fletcher High School (math 32% / reading 57%, grade F, #237 of 667 statewide, top 36%, 2,067 students, 26% FRL) — zoned schools average 26% FRL vs 49% district-wide (23 pts lower); this property's tenant base skews higher-income than the district average.
• Watch-outs: flood insurance adds $66/mo; HOA is 30% of rent.
• Market conditions: Rents rising fast (+4.2%/yr); 153 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 61% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 6,503 units permitted in Duval County in 2024 (1,131 in 5+ unit buildings).
• Duval County population projected at +19% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• 6 sale attempts since 25y ago; this cycle's ask has dropped $15k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $51k; list at $205k implies a 300% gain — meaningful room to come down on a strong offer.
• Climate carrying-cost: major flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→21/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.
• Cap rate 3.0% vs local median 4.0% in Jacksonville — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 80 days. Have you received any prior offers? Is the seller open to a 44% concession, seller financing, or rate buy-down credit?
• What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?